Iberdrola it goes like a shot. To the company chaired by Ignacio Sánchez Galan the accounts come out. In the first nine months of the year there has been a profit of 5,470 million euroswhich represents 50% more than the same period of the previous year.
These numbers have been impacted by the sale of the business in Mexico, which has represented a capital gain of more than 1.1 billion. Without taking into account this situation, profits would have grown by close to 20%.
During the last weeks, Iberdrola has reached a historical trading record on the Ibex 35a situation that is now endorsed by the financial results of the electricity company in the period from January to September.
One of the main economic magnitudes, and which certifies the good health of the electricity company, the Ebitda had an increase of 23% in this period. It reached 13,269 million eurosdriven mainly by a 25% increase in organic network investments in the last nine months – with the electrical network asset base already reaching 47.6 billion (including ENW) – as well as renewable production at historical highs thanks to new investments and results from asset rotation.
Recurring Ebitda grew by 11%, to 11,551 million euros. The United States and the United Kingdom drove the result, with increases of 25% and 15% in Ebitda, respectively.
Investments reached the record figure of 12.3 billion euros13% more, mainly in networks and renewables in the United States and the United Kingdom.
The plan is fulfilled
The president of Iberdrola wanted to highlight after presenting results the “positive evolution of the strategic plan, at a time when the company’s capitalization is around 90,000 million euros and has good prospects from investment banks.”
Iberdrola has 90% of the supply chain secured for networks and renewables until 2026. In fact, In offshore wind the company already has 100% of the contracts secured and in networks95% by 2026, while ensuring purchases for the years 2027 and beyond.
Besides, In the presentation of results it is highlighted that Iberdrola is accelerating its strategic plan and taking advantage of new electrification opportunities. Therefore, it plans to increase its investment forecasts in renewables and networks in an environment of greater regulatory support.
The company has increased its investments, mainly in the United States and the United Kingdom. Thus, it has closed the purchase of the British ENW and has obtained approval from Avangrid shareholders for its merger.
Added to this is that Iberdrola will multiply its offshore wind capacity by three to 6,500 MW in 2030, since the company has obtained two new offshore projects in the United Kingdom -East Anglia 2 and 3- of 1,000 MW and one in the US -New England- 800 MW.
In addition, Iberdrola has an important long-term client portfolio: it has closed long-term contracts for 5 million MWh in 2024 and supplies more than 10 TWh to technology companies.
In the accounts presented, the company wanted to highlight its role as a “facilitator in the development of data centers”, since It has 615 MW with secured connection in Madrid and Aragón and a potential portfolio of 5 GW. For this reason, the company has developed a model of alliances, in which Iberdrola will have a minority stake, providing land, renewable assets, connection to the grid and long-term contracts with clean energy 24×7.
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